May 26, 2017 archive

Sonstone Trading LLC of Pratt, Kansas pleaded guilty this week to an oil and gas fraud scheme. Wichita U.S. Attorney Tom Beall said Sonstone Trading LLC pleaded guilty of one count of wire fraud. As part of the plea deal, charges against Sonstone executive David Lawson were dropped by the prosecution. Also as part of …

Even as the Oklahoma House debated and questioned the merits of a $6.8 billion budget bill hours before the sine die adjournment required on Friday, the nagging issue of gross production tax on oil and gas was brought up by Democrats. Mustang Rep. Leslie Osborn presented SB 860, the budget bill and for nearly 90 …

While billionaire Harold Hamm and his Oklahoma City-based Continental Resources have been bashed by Democratic lawmakers in a fight over gross production taxes, his company has revealed the discovery of a STACK well with production of more than 2,100 barrels of oil a day. A completion report, as shown by OK Energy Today indicated the Swaim …

The company said it is also closing two others in the subdivision. “We are confident these wells would be safe to bring back on production at a future date,” said Craig Walters, the company’s vice president for Rockies operations. “However, we recognize the special circumstances and sensitivity around this particular equipment, and therefore, made the …

More than 60 environmental groups want EPA Administrator Scott Pruitt to maintain approaching deadlines for oil and gas operators to cut their emissions of methane. Representing conservation, health, labor and even faith groups, they sent a letter this week to Pruitt. They’re asking he keep in place the Obama-era standards requiring oil and gas companies …

“If we remain in the agreement, we are putting ourselves at significant litigation risk.” Sen. Jim Inhofe on Paris Climate Agreement. Oklahoma U.S. Sen. Jim Inhofe is urging President Trump to withdraw from the Paris Climate Agreement, saying if he doesn’t, the nation could be dragged into court by environmentalists who want enforcement of …

Tulsa-based NGL Energy Partners LP announced on Thursday that it posted $26.5 million in net income for the fourth quarter and $143.9 million for Fiscal Year 2017, according to a company press release. This compares with last year’s net losses of $207 million and $187.1 million, respectively. Earlier in February, NGL issued $500 million of 6.125% …